Cost of living crisis: inflation barely drops as Brexit fuels food price rise
270,697
Published 2023-05-24
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And that means that the Bank of England is likely to continue putting up interest rates in response.
Within the figures, food inflation remains at the highest levels for over four decades at 19.3 percent, which means an even greater squeeze on the budgets of low income families.
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All Comments (21)
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The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop.
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The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
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One major factor was left out is that we are seeing global inflation. I saw it in the news that most countries are all competing for parts , products food etc. Even nations that managed their rates better are seeing major issues. The glut of money was an issue sure, but the surging demand from nation that re-opened from covid lockdowns played a larger role. Add to this pandemic-related staffing issues and the intentional global oil supply problems and its a nightmare. I known the intention was to explain inflation but that doesn't do justice to the current inflation on a global scale.
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Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
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With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. My portfolio suffered a big hit, holding it further won’t be any good. I've heard of people netting hundreds of thousands this red season. How can I ensure this?
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Meanwhile, Boris Johnson has bought a £3.8 million, nine-bedroom mansion with a three-sided moat in Oxfordshire. The former prime minister acquired the grade II listed property without a mortgage. This evening Boris, tirelessly working on behalf of his constituents, is in Las Vegas on a paid for speaking engagement at the Bellagio Hotel and Casino.
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Oddly enough, there was just a coronation in that country. Who paid for that? I guess the folks who can't afford to eat can pay for a crowning.
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I would feel much sympathy for the British people. But then I remember it was the British public that voted for the last 12 years of Tory rule and for Brexit. You get the government you deserve.
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I’m working for the one of largest food producers in UK, can confirm, the company has double profits, compared to last year.
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Food prices are never coming down ... when have you ever seen that happen!!!
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Every week I go into the supermarket the price of food is up again its disgusting that people are missing meals just to pay their bills and rent.
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This didn’t quite address the key issue of the problem… Companies everywhere increasing profit margins as they think consumers won’t notice and think it’s part of inflation. THAT is the real issue!
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It's hard to predict the future until we see this month’s inflation results. However, historical data consistently show that stocks tend to outperform bonds in the long term. Therefore, I'm staying in the market and focusing on selecting high-quality stocks. The challenge lies in identifying these stocks.
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We keep hearing what a "rich country" Britain is. Maybe for the 1%
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I wish they would stop saying, we will get into a recession, we are in one, next is a depression. Going shopping for food tells us the truth. At this Point I'm honestly considering Liquidating my $600k stock portfolio
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Don't forget, our inflation remains the highest amongst advanced economies. Yes, there has been a war in the Ukraine and an energy crisis, but the UK is managing it much worse than all other major economies. Look no further than Tory economic incompetence and Brexit.
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greed from the food sector and brexit are making England poorer, well Britain poorer 🤷♂ Well done brexiteers 👏👏👏
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It's getting out of control now. I'm a single guy with only 1 wage coming in to the house. Even Aldi prices are getting out of reach. People are living off meal deals in Asda etc, a sandwich, bag of crisps and a drink. and the supermarkets know it. I deliver goods to them and there's so much focus on Staff stocking the shelves everyday in that area. Their At It and it will come to breaking point for people.
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Slim’s right - inflation falling doesn’t mean prices fall. It just means they’ve stopped increasing as much. We’ll all just be taking a massive hit to our purchasing power.
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least we're still getting the £350m a week for the NHS. Without that we'd be in big trouble.